KNR Constructions Limited — Investor Presentation 2020

Feb 13, 2020

Dut". 11,', I;cbruarr, 2020

Ref: KNRCL/SD/2020/ 27 &22

To Dept. of Corporatc Scrvices, BSE Limitetl P J Towers, Dalal Strcet, Fort, N{UMBAI -.100001

National Stock Exchange of India Limited "Exchange Plaza", Bandra Kurla Complex, Banclra (E), MUMBAI - 400051

BSE Corle: 5329.12 NSE Codc: KNRCON

Sir,

Sub:- Investors presentation - February 2020

Ref: - Listing Regulations

With reference to the above, please find attached the latest investors' Presentation.

To

This is for your information and records

Yours trull', for KNR Construc I^,.laoLalz" M. V. VENKAI'A RA Companv Sccrctarv ted * ra tru c

Regd.ofiice : 'KNR House"3rd & 4th Floor,Plot No.114,Phase-l,Kavuri Hills, Hyderabad -500 033 phone.:+9140-40269759 ,40268761t 62, Fax : 040- 40268760,E-mail : info@knrcl.com,Web : www.knrcl.com CIN : 1742't 0TG1 995PLC1 301 99

KNR Constructions Limited

Positioned To Build A New India

Investor Presentation February 2020

This presentation and the accompanying slides (the "Presentation"), which have been prepared by KNR Constructions Limited (the "Company"), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company's market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company's ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.

Standalone Financial Highlights

^Note - Entered into a SPA with CUBE Highways for sale of KNR Walayar Tollways Pvt. Ltd. for an EV of Rs. 5,292.7 Million and accordingly impaired its investment for an amount of Rs. 67.2 Million recorded as exceptional item in Q3 FY20; In Q2 FY20, investment in KNR Chidambaram Infra HAM Project has been written-off due to deemed termination as per clause 4.5 of the concession agreement

4

Standalone Financial Results

				Standalone
Rs. Million	Q3 FY20	Q3 FY19	YoY	9M FY20	9M FY19	YoY
Total Revenue	5,578.8	4,488.9	24%	15,686.8	14,215.4	10%
Operating Expenses	3,259.4	2,803.6		9,469.6	9,018.8
Employees Expenses	303.0	235.7		937.2	680.9
Other Expenditure	772.5	550.9		1,878.1	1,687.2
EBITDA	1,243.9	898.8	38%	3,401.9	2,828.6	20%
EBITDA margin	22.3%	20.0%		21.7%	19.9%
Other Income	69.7	216.7		493.1	482.4
Depreciation	516.9	450.0		1,380.9	1,202.7
Interest^	141.5	70.1		329.5	216.2
Exceptional Item*	-67.2	-		-107.2	-
PBT	588.0	595.3	-1%	2,077.4	1,892.2	10%
Tax	186.0	74.2		497.2	181.1
Current Tax	275.0	132.6		663.5	379.8
Prior Period Tax	0.6	3.6		0.6	3.6
Deferred Tax	-89.6	-62.0		-166.9	-202.2
Profit After Tax	402.1	521.1	-23%	1,580.2	1,711.1	-8%
PAT margin	7.2%	11.6%		10.1%	12.0%
Other Comprehensive Income	0.0	-3.2		-0.1	-9.5
Total Comprehensive Income	402.1	517.9	-22%	1,580.1	1,701.6	-7%

*Entered into a SPA with CUBE Highways for sale of KNR Walayar Tollways Pvt. Ltd. for an EV of Rs. 5,292.7 Million and accordingly impaired its investment for an amount of Rs. 67.2 Million recorded as exceptional item in Q3 FY20; In Q2 FY20, investment in KNR Chidambaram Infra HAM Project has been written-off due to deemed termination as per clause 4.5 of the concession agreement

Standalone Balance Sheet

ASSETS (Rs. Million)	Sep-19	Mar-19
Non-Current Assets
Property, plant and equipment	4,257.0	3,709.2
Capital work-in-progress	56.0	0.1
Right of Use Asset	18.0	-
Investment property	658.8	630.0
Other Intangible assets	1.9	1.1
Financial Assets
Investments	1,869.6	1,191.7
Other Investments	5,123.9	5,008.4
Loans	27.2	26.1
Other financial assets	12.3	25.5
Deferred tax assets (Net)	1,687.0	1,739.1
Non currenttaxassets (Net)	199.3	137.8
Other non-current assets	1,150.9	1,183.3
Total Non-current assets	15,061.9	13,652.3
Current assets
Inventories	1,052.4	950.9
Financial assets
Other Investments	-	1.0
Trade receivables	2,924.1	2,344.1
Cash and cash equivalents	59.9	58.3
Bank Balances	123.0	71.9
Loans	37.5	39.4
Other financials assets	1,818.2	2,070.9
Current tax assets (Net)	180.1	-
Other current assets	4,830.7	3,514.4
Total Current assets	11,025.9	9,050.9

EQUITY & LIABILITIES (Rs. Million)	Sep-19	Mar-19
Equity
Equity Share capital	281.2	281.2
Other equity	14,972.1	13,861.9
Total equity	15,253.3	14,143.1
Liabilities
Non-current liabilities
Financial liabilities
Borrowings	2,123.0	2,212.4
Lease Liability	7.6	-
Other financial liabilities	1.5	1.5
Provisions	58.8	46.7
Other non-current liabilities	130.2	132.5
Total non-current liabilities	2,321.1	2,393.1
Current liabilities
Financial liabilities
Borrowings	779.5	169.4
Trade Payables	2,267.6	2,236.1
Other financial liabilities	1,609.1	1,666.3
Provisions	43.9	117.6
Current Tax Liability (net)	39.5	39.4
Other current liabilities	3,773.8	1,938.2
Total current liabilities	8,513.4	6,167.0
TOTAL EQUITY AND LIABILITIES	26,087.8	22,703.2

Consolidated Financial Results

				Consolidated
Rs. Million	Q3 FY20	Q3 FY19	YoY	9M FY20	9M FY19	YoY
Total Revenue	6,037.5	4,838.5	25%	17,215.4	15,261.5	13%
Operating Expenses	3,276.6	2,824.4		9,849.5	9,151.9
Employees Expenses	307.6	240.8		950.2	695.2
Other Expenditure	844.0	597.0		2,065.6	1,853.4
EBITDA	1,609.3	1,176.3	37%	4,350.0	3,561.1	22%
EBITDA margin	26.7%	24.3%		25.3%	23.3%
Other Income	92.1	219.5		552.7	530.2
Depreciation	672.6	598.5		1,847.8	1,648.3
Interest	276.1	216.2		750.8	675.5
Share of Profit / loss of associates	-19.6	-13.0		57.4	-11.6
Exceptional Item*	-67.2	-		-107.2	-
PBT	666.0	568.0	17%	2,254.4	1,755.9	28%
Tax	186.0	76.0		498.3	184.1
Current Tax	275.0	138.1		663.9	386.5
Prior Period Tax	0.6	4.9		0.3	4.9
Deferred Tax	-89.6	-67.1		-165.9	-207.3
Profit After Tax	480.0	492.0	-2%	1,756.1	1,571.8	12%
PAT margin	8.0%	10.2%		10.2%	10.3%
Other Comprehensive Income	0.0	-3.1		0.0	-9.4
Total Comprehensive Income	480.1	488.9	-2%	1,756.1	1,562.4	12%

*Entered into a SPA with CUBE Highways for sale of KNR Walayar Tollways Pvt. Ltd. for an EV of Rs. 5,292.7 Million and accordingly impaired its investment for an amount of Rs. 67.2 Million recorded as exceptional item in Q3 FY20; In Q2 FY20, investment in KNR Chidambaram Infra HAM Project has been written-off due to deemed termination as per clause 4.5 of the concession agreement

Consolidated Balance Sheet

ASSETS (Rs. Million)	Sep-19	Mar-19
Non-Current Assets
Property, plant and equipment	4,290.2	3,746.0
Capital work-in-progress	56.0	0.1
Right of Use Asset	18.0	0.0
Investment property	724.5	651.6
Other Intangible assets	8,498.3	8,807.5
Financial Assets
Investments	406.7	329.7
Other financial assets	4,141.1	1,416.8
Deferred tax assets (Net)	1,687.0	1,747.7
Non currenttaxassets (Net)	317.1	190.5
Other non-current assets	1,705.7	1,601.8
Total Non-current assets	21,844.7	18,491.7
Current assets
Inventories	1,052.4	1,011.9
Financial assets
Other Investments	232.2	189.6
Trade receivables	893.6	968.0
Cash and cash equivalents	177.5	99.0
Bank Balances	258.5	175.7
Loans	37.4	39.4
Other financials assets	1,849.6	1,742.0
Current tax assets (Net)	203.0	135.2
Other current assets	5,182.4	4,438.0
Total Current assets	9,886.6	8,798.9
TOTAL ASSETS	31,731.3	27,290.5

EQUITY & LIABILITIES (Rs. Million)	Sep-19	Mar-19
Equity
Equity Share capital	281.2	281.2
Instruments entirely equity in nature	85.0	85.0
Other equity	13,962.2	12,742.0
Non-Controlling Interests	415.7	427.7
Total equity	14,744.2	13,535.9
Liabilities
Non-current liabilities
Financial liabilities
Borrowings	6,528.2	6,899.2
Lease Liability	7.5	0.0
Other financial liabilities	16.4	17.8
Provisions	360.5	284.4
Other non-current liabilities	130.2	132.5
Total non-current liabilities	7,042.8	7,333.9
Current liabilities
Financial liabilities
Borrowings	779.5	169.4
Trade Payables	2,378.7	2,306.0
Other financial liabilities	1,968.4	2,006.8
Provisions	118.1	191.8
Current Tax Liability (net)	39.5	39.6
Other current liabilities	4,660.1	1,707.1
Total current liabilities	9,944.3	6,420.7
TOTAL EQUITY AND LIABILITIES	31,731.3	27,290.5

Cash Flow Statement

	Standalone		Consolidated
Particulars (Rs. Million)	Sep-19	Sep-18	Sep-19	Sep-18
Net Profit Before Tax	1,489.4	1,296.9	1,588.4	1,187.9
Adjustments for: Non-Cash Items / Other Investment or Financial Items	763.3	769.3	1,255.3	1,418.3
Operating profit before working capital changes	2,252.7	2,066.2	2,843.7	2,606.2
Changes in working capital	24.5	523.0	-742.6	360.2
Cash generated from Operations	2,277.2	2,589.2	2,101.2	2,966.4
Share of profit / loss of Associate or JV	-	-	-77.0	-1.4
Direct taxes paid (net of refund)	-498.1	-242.4	-443.5	-257.5
Net Cash from Operating Activities	1,779.1	2,346.8	1,580.7	2,707.4
Net Cash from Investing Activities	-2,088.9	-2,249.2	-1,293.4	-1,809.9
Net Cash from Financing Activities	311.5	39.2	-208.9	-698.9
Net Decrease in Cash and Cash equivalents	1.6	136.9	78.4	198.6
Add: Cash & Cash equivalents at the beginning of the period	58.3	370.6	99.0	449.9
Cash & Cash equivalents at the end of the period	59.9	507.5	177.4	648.5

Key Updates

• ❑ Company has a Portfolio of 5 HAM Projects worth of Rs.60,491.7 Million (BPC)
• ❑ The concession agreement between KNR Chidambaram Infra Private Limited and NHAI is deemed terminated with effect from 11th April 2019 as per the Clause 4.5 of the concession agreement
• ❑ The Company has 2 irrigation projects worth Rs. 16,973 Million from Megha Engineering & Infrastructure Ltd and Navayuga Engineering Company Ltd
• ❑ Entered into Share Purchase Agreement with Cube Highways and Infrastructure III Pte. Ltd for the following SPVs (HAM projects)
  • KNR Srirangam Infra Private Limited
  • KNR Tirumala Infra Private Limited
  • KNR Shankarampet Projects Private Limited

❑ Received Appointed for the following projects and execution is in full swing

• KNR Tirumala Infra Private Limited (HAM project) 4th January 2019
• KNR Srirangam Infra Private Limited (HAM Project) 1st March 2019
• KNR Shankarampet Projects Private Limited (HAM project) 2nd May 2019
• KNR Somwarpet Infra Private Ltd (KSHIP HAM Project) – 12th February 2020
• ❑ Concession Agreement for KNR Palani Infra Pvt. Ltd. (NHAI HAM) project worth Rs. 920 Crores (BPC) in Tamil Nadu has been signed on 6 th December 2019
• ❑ Signed SPA with Cube Highways and Infrastructure III Pte. Ltd for sale of its 100% stake in KNR Walayar Tollways Pvt Ltd for an enterprise value of Rs. 529.27 Crores

Business Overview

• ❑ One of the leading companies providing Engineering, Procurement and Construction (EPC) services
  • Major Projects in Roads & Highways one of the fast-growing sectors
  • Established presence in Irrigation and Urban Water Infrastructure Management
• ❑ 20 years of experience of project execution
  • Successfully executed more than ~6,000 lane km Road Projects
  • Projects executed across 12 states in India

❑ Portfolio of BOT Projects

• 778 lane Kms Projects in the state of Telangana, Karnataka, Kerala & Bihar
• 2 Annuity based Projects & 2 Toll based projects completed
• Appointed date for KSHIP HAM project has been received
• Concession Agreement for NHAI HAM project worth Rs. 920 Crores (BPC) in Tamil Nadu has been signed

❑ Strong EPC Order Book

To develop KNRCL as a Centre of excellence in the field of Infrastructure services by striving continuously to provide eco-friendly solution adopting state-ofthe-art practices and commitment to quality through motivated human resource

We would aim to add more business verticals to the organisation in the fields of construction of Elevated Metro Rail and Railway Projects.

Mr. K. Narasimha Reddy – Founder Promoter & Managing Director

• Over 50 years of experience in the Highway sector
• Started career in 1968 and engaged in the business of undertaking civil and mechanical contracts
• Extensive knowledge and experience in multi project planning Scheduling, cost controls in addition to overall construction and multi project management & driving force in taking the company towards greater heights

Mr. K. Jalandhar Reddy – Promoter & Executive Director

• Over 25 years of experience in the Highway and infrastructure sector
• Started his career with the organisation as a project Manager and was elevated to Executive Director on April 1, 1997
• Heads the tendering and bidding activities and oversees most of the projects

Supported by Professional Team

Mr. T.L. Verma (Sr. Vice President - Projects)

• A Bachelor of Engineering (BE) from MITS Gwalior (MP) with Over 35 years of total experience with ~20 years of experience in Highway sector
• Working with the company since 2006 on various projects i.e. Bridges and Highways, including construction of Concrete Roads

Mr. S Vaikuntanathan (Vice President - Finance)

• A Fellow Member of the Institute of Chartered Accountants of India with 39 years of experience in the areas of finance, accountancy and taxation
• Has the overall responsibility for the finalization of corporate accounts, taxation, finance and related jobs

Mr. V. Narasimha Ramana (Sr. Vice President - Technical)

• M. Tech in Civil Engineering from IIT Madras with over 30 years of rich experience in various Highway Projects connected with MORTH & NHAI
• Actively involved all the verticals of highway and bridge projects

Mr. M.V. Venkata Rao (Company Secretary)

• A Fellow Member of the Institute of Company Secretaries of India
• Working with the company since 2007 and has the overall responsibility towards compliance of Rules & Regulations laid down by various authorities

1. Project Execution Capabilities

• ❑ Top management's active involvement at all stages of Project execution
  • Selection of Major Raw Material
  • Selection of construction Camp location
• ❑ Faster Decision making to ensure project completion on schedule
• ❑ Received Bonus for completion of construction ahead of schedule

SIGNIFICANT EXPERIENCE AND STRONG TRACK RECORD IN TIMELY EXECUTION OF PROJECTS

Pan India Project Execution Capability*

Uttar Pradesh
No of Projects4
Value of Projects	Rs. 1,704 mn

Madhya Pradesh
No of Projects5
Value of ProjectsRs. 7,941 mn

Karnataka
No of Projects14
Value of Projects	Rs. 21,084 mn

Kerala
No of Projects	3
Value of Projects	Rs. 7,905 mn

Arunachal Pradesh
No of Projects	1
Value of ProjectsRs. 920 mn

Assam
No of Projects	2
Value of Projects	Rs. 1,913 mn

Chhattisgarh
No of Projects	1
Value of Projects	Rs. 264 mn

Odisha
No of Projects	1
Value of Projects	Rs. 2,313 mn

AP & Telangana
No of Projects	8
Value of Projects	Rs. 15,771 mn

*Projects executed in last 5 years

Disclaimer: Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness 18

Cement Concrete Road

• Completed Widening to 4/6 lanes and Strengthening of Existing two lane carriageway of NH 5 in the State of Orissa for a length of 56.0 Kms with total contract value of work is Rs 2,310 mn
• Existing road was widened & strengthened with flexible pavement but, new 2- lane road was constructed with concrete (PQC)
• Concrete road was paved for a width of 8.75m with G&Z slip form paver having automatic device for placement of tie bars and dowel bars at fixed interval
• Concreted Batching Plant was installed with a capacity compatible with the paving capacity of G&Z paver for better quality control of PQC Road

Hard Rock Excavation

▪ 2.6 Millions Cubic Meters deep hard rock excavation was done in the work of four laning of Islam Nagar (KM 230.00) to Kadtal (KM 278.00) of Nagpur –Hyderabad Section on NH-7 in the State of Telangana

2. In-house Construction Equipment

	Sr. No. Machinery	Quantity
1	Tippers & Tankers	1,080
2	Excavators	321
3	Generators	208
4	Concrete Mixers And Pumps	133
5	Compactors	128
6	Loaders	76
7	Drillers & Breakers	72
8	Graders	64
9	Cranes	52
10	Pavers	40
11	Batching Plants	42
12	Tractors	37
13	Weigh Bridges	37

	Sr. No. Machinery	Quantity
14	Rollers	33
15	Crushers	28
16	Light Soures	26
17	Trailers	24
18	Dozers	28
19	Compressors	32
20	Transformers	18
21	Wet Mix Plants	12
22	Hot Mix Plants	12
23	CurblayingMachine	8
24	Sweeping Machines	7
25	Drum Mix Plants	7
26	Sprayers	7

Gross Block of Plant &

Machinery*

₹ 10,725 Million

250 TPH Nawa Crushing Plant

WORLD CLASS CONSTRUCTION EQUIPMENTS USE OF RIGHT TOOLS FOR RIGHT WORK

IN-HOUSE TEAM OF QUALIFIED AND EXPERIENCED EMPLOYEES LED BY PROVEN MANAGEMENT TEAM

4. Host of Marque Clients

BOT Portfolio – Annuity Projects

	Particulars	PatelKNR Infrastructures limited (PKIL)	PatelKNR Heavy Infrastructures Limited (PKHIL)
	Stake	40%	40%
sail	Project Type	Road-Annuity	Road-Annuity
teD	State	Karnataka	Telangana
tce	JV Partner	PEL	PEIL
ojrP	Client	NHAI	NHAI
	Length (KM)	60.0	53.0
s	Concession Start Date	26thMarch2007	nd2March 2008
mre	Concession Period	20 Years	20 Years
T	COD	21stDecember 2009	11thJune 2010
	Project Cost (Rs. mn)	4,420.0	5,920.0
sal	Equity (31.12.2019) (Rs. mn)	370.0	648.7
cina	Debt(31.12.2019) (Rs. mn)	2,274.9	3,705.8
nFi	Securitized	Yes*	Yes**
	Semi-Annutiy -36 Instalments (Rs. mn)	329.4	443.7

* PKIL securitized its project loan through issuance of non-convertible debentures to LIC of India & raised Rs. 4,090 mn in April 2010. The said proceeds were used to retire the existing high cost project loan and unsecured loans of promoters and to meet the issue expenses.

**PKHIL securitized its project loan through issuance of non-convertible debentures to L&T Infrastructures Finance Company Limited and raised Rs 4000 mn in Sept. 2013. The said proceeds were used to retire the existing high cost project loans (Other than the ECB of USD 25 Millions availed from the Standard Chartered Bank , London) and unsecured loans of promoters and to meet the issue expenses. 24

BOT Portfolio – Toll Projects

	Particulars	KNR Walayar Tollways Private Limited#	KNR MuzaffarpurBarauniTollwayPrivate Limited
	Stake	100%	51%
sail	Project Type	Road-Toll	Road-Toll
te	State	Kerala	Bihar
Dtc	JV Partner	-	JKM Infra Project Ltd
eoj	Client	NHAI	NHAI
rP	No of Lanes	Two to Four	Two
	Length(KM)	54	108
sm	Concession Start Date	18thMay2013	8th July 2012
	Concession Period	20 Years	21 Years
reT	Scheduled COD	15th Nov. 2015	9th July 2014
	Actual Scheduled COD	31stOct. 2015	3rd June 2016
	Revenue Sharing	Grant	Premium
	Project Cost (Rs. mn)	9,005.1	3,596.8 /(Revised: 4,588.6)
sal	Equity (31.12.2019) (Rs. mn)	3,974.1*	1,771.5
cina	Debt (31.12.2019) (Rs. mn)	1,430.9	3,021.5
nFi	Status	100% COD issued on 31st Oct. 2015	100% PCOD issued on 24th August 2017
	TollRevenue –Q3 & 9M FY20 (Rs. mn)	Q3 FY 20: 176.8, 9M FY 20: 515.3	Q3 FY 20: 135.6, 9M FY 20: 547.6

*incl. additional quasi equity of Rs. 2,615.0 mn towards repayment of loans

# Entered into SPA with CUBE Highways to sell the entire stake in the project for EV of Rs 529.27 crore

HAM Portfolio

	Particulars	Trichy toKallagam	ChittortoMallavaram	RamsanpalletoMangloor	MagaditoSomwarpet	OddanchatramtoMadathukulam*
	SPV Name	KNR Srirangam InfraPrivate Limited	KNR Tirumala InfraPrivate Limited	KNR ShankarampetProjectsPrivate Limited	KNR SomwarpetInfraPrivate Limited	KNR Palani InfraPrivate Limited
	Stake	100%**	100%**	100%**	100%	100%
ailet	Project Type	Hybrid Annuity	Hybrid Annuity	Hybrid Annuity	Hybrid Annuity	Hybrid Annuity
Dct	State	Tamil Nadu	Andhra Pradesh	Telangana	Karnataka	Tamil Nadu
eoj	Client	NHAI	NHAI	NHAI	KSHIP	NHAI
Pr	No of Lanes	Four	Six	Four	Two	Four
	Length(KM)	38.7	61.1	46.8	166.0	45.4
	Concession Period	17 Years	17.5 Years	17 Years	9 Years	17 Years
	Bid Project Cost (Rs. mn)	10,206.0	17,300.7	12,340.0	11,445.0	9,200.0
	Total Project Cost (Rs. mn)	9,099.8	14,555.0	10,456.2	11,276.0
sal	Grant (Rs. mn)^	4,317.5	7,392.5	4,936.0	7,485.0
cina	Estimated Equity (Rs. mn)	962.3	1,432.5	1,351.2	1,221.0	Signed CA on 6thDecember
nFi	Estimated Debt (Rs. mn)	3,820.0	5,730.0	4,169.0	2,570.0	2019
	Status	AD received on 1stMar 2019	AD received on 4thJan 2019	AD received on 2ndMay 2019	AD received on 12thFeb 2020
s	% Physical Progress	25.4%	35.2%	34.8%	NA	NA
segr	Equity Invested (Rs. mn)	481.2	725.3	536.2	25.5	1.0
oPr	Grant Received (Rs. mn)	787.2	2,960.5	881.4	NA	NA
	Debt Already Drawn	119.3	NA	NA	NA	NA

*subject to Financial Closure

** - Share Purchase Agreement signed with Cube Highways and Infrastructure III Pte. Ltd. ^Grant includes estimated Price Index Multiple of Rs. 821.0 mn

1. FC – Financial Closure 2. AD – Appointed Dated

2. CA - Concession Agreement

Details of SPA with Cube^

❑ Entered into Share Purchase Agreement with Cube for the above mentioned 3 SPV's (100% wholly owned subsidiary the Company)

• ❑ The Company in a phased manner will sell to Cube its entire shareholding in the SPV
  • Sale is subject to the shareholding transfer restrictions set out in the concession agreement executed between NHAI and the SPV's and various regulatory and lender's approvals
• ❑ The transaction is contemplated to be completed in two stages
  • First Stage scheduled to be completed after achievement of the Commercial Operation Date (the "COD") as per Concession Agreement
  • Second Stage scheduled to be completed after expiry of mandatory lock-in period as per the Concession Agreement

^ Cube Highways and Infrastructure III Pte. Ltd.

* The amount may undergo some changes at the time of COD

Order-book Highlights

Key Projects	Rs. Mn
MagaditoSomwarpethProject(KSHIPHAM)	9,000
ChittortoMallavarmProject(HAM)	7,803
RamsanpalletoMangloorProject(HAM)	6,082
TrichytoKallagamProject(HAM)	5,678
Hubli–HospetSectionofNH–63	2,990
Top5 Road Projects	28,566
OtherRoad Projects	13,765
Irrigation Projects	16,544
Other Projects	8
Total	58,883

HAM Projects Won

HAM Projects Not Included in Order Book	Bid Project Cost(Rs. mn)
Four Laningof Oddanchatram–Madathukulamsection of NH -209(New NH-83) under BharatmalaPariyojnaPhase –I (ResidualProject under NHDP) in the state of Tamil Nadu	9,200.0

Order-book: State-wise

Karnataka
No of Projects	6
Balance Value	Rs. 13,790 mn

Kerala
No of Projects	3
Balance Value	Rs. 444 mn

ArunachalPradesh
No of Projects	1
Balance Value	Rs. 1,092 mn

AP & Telangana
No of Projects	12
Balance Value	Rs. 34,548 mn

TamilNadu
No of Projects	11
Balance Value	Rs. 9,009 mn

Standalone Financial Highlights*

Financial Year	2010	2011	2012	2013	2014	2015	2016^	2017^	2018^	2019^
	Rs. 7,125		Rs. 7,930 Rs. 7,505		Rs. 6,921 Rs. 8,348	Rs. 8,761	Rs. 9,025	Rs. 15,411	Rs. 19,317	Rs.21,373
Turnover	$118.6	$132.0	$125.0	$115.2	$139.0	$140.0	$136.1	$238.3	$296.9	$306.8
EBITDA	Rs. 1,121		Rs. 1,356 Rs. 1,338		Rs. 1,164 Rs. 1,258	Rs. 1,261	Rs. 1,529	Rs. 2,296	Rs. 3,839	Rs. 4,270
	$18.7	$22.6	$22.3	$19.4	$20.9	$20.1	$23.1	$35.5	$59.3	$61.3
Profit before Tax(PBT)	Rs. 826	Rs. 897	Rs. 784	Rs. 670	Rs. 669	Rs. 723	Rs. 1,291	Rs. 1,632	Rs. 2,682	Rs. 2,906
	$13.8	$14.9	$13.1	$11.2	$11.1	$11.6	$19.5	$25.2	$41.2	$41.7
Profit after Tax	Rs. 503	Rs. 568	Rs. 528	Rs. 521	Rs. 610	Rs. 730	Rs. 1,611	Rs. 1,573	Rs. 2,721	Rs. 2,633
(PAT)	$8.4	$9.5	$8.8	$8.7	$10.2	$11.7	$24.3	$24.3	$41.8	$37.8
	Rs. 3.58	Rs. 4.04	Rs. 3.75	Rs. 3.71	Rs. 4.34	Rs. 5.19	Rs. 11.45	Rs. 11.18	Rs. 19.35	Rs. 18.72
EPS	$0.05	$0.06	$0.06	$0.06	$0.07	$0.08	$0.18	$0.17	$0.30	$0.27
	Rs. 3,008		Rs. 3,520 Rs. 4,024		Rs. 4,521 Rs. 5,106	Rs. 5,837	Rs. 7,377	Rs. 8,955	Rs. 11,578	Rs. 14,143
Net Worth	$50.1	$58.6	$67.0	$75.3	$85.0	$93.3	$111.2	$138.5	$177.9	$203.0
	Rs. 740	Rs. 735	Rs. 555	Rs. 710	Rs. 867	Rs. 963	Rs. 1,125	Rs. 1,303	Rs. 2,204	Rs. 2,641
Debt	$12.3	$12.2	$9.2	$11.8	$14.4	$16.0	$16.9	$20.2	$31.6	$37.9
Debt to Equity	0.25	0.21	0.14	0.16	0.17	0.17	0.15	0.14	0.19	0.19

From FY10 to FY14 1 USD = Rs. 60.059

FY15 – 1USD = Rs. 62.58; FY16-1 USD = Rs. 66.32; FY17-Rs. 64.66; FY18-Rs. 65.07, FY19-Rs. 69.66

^ Based on IndAS 34

* Above financials are based on I GAAP All figures in Rupees million except EPS & Debt to Equity

Standalone Financial Highlights

* - Includes Early Completion Bonus of Rs. 490 million 35

Standalone Net Working Capital Days

Shareholding Pattern as on 31st December 2019

Shareholders Holding more than 1% of the Equity(Other than Promoters)	% to Equity
ICICI Prudential Mutual Fund	6.70%
HDFC Mutual Fund	6.40%
DSP Mutual Fund	6.24%
L&T Mutual Fund	2.10%
Franklin Mutual Fund	2.00%
UTI Mutual Fund	1.73%
Tata Mutual Fund	1.71%
Tata AIA Life Insurance	1.42%
Invesco Asset Management	1.23%
Total	29.53%

Completed Projects

Under Construction Projects

Equipments & Others

For further information, please contact

Company :	Investor Relations Advisors:
KNR Constructions Ltd.CIN: L74210TG1995PLC130199
Mr.K. VenkataRam Rao(GM -Finance & Accounts)	Strategic Growth Advisors Pvt. Ltd.CIN: U74140MH2010PTC204285
venkatram@knrcl.com	Mr.Jigar Kavaiya / Mr. Varun Divadkar
Office Address:	+91 9920602034 / +91 9763702204
KNR Constructions LimitedKNR House, 3rd & 4th Floors,	Jigar.kavaiya@sgapl.net / varun.divadkar@sgapl.net
Plot NO. 114, Phase -I,KavuriHills, Hyderabad –500033	www.sgapl.net
www.knrcl.com